Jim Khuri is a serial entrepreneur running a chain of successful businesses across various industries, from real estate to e-commerce. By the time he was 27 years old, he had generated more than $100 million in sales, and he hopes to make at least $200 million in revenue by the end of 2021. He’s currently the CEO of Khuri Enterprises, a real estate company, and FJ Holdings, a trading card distributor.
Jim was born in 1975 in Rochester, New York. At eight years old, his family moved to Lebanon but relocated to New York six months later as they feared for their lives due to the ongoing war. He attended the University of Rochester – Simon School Of Business for his Master of Business Administration (MBA) degree.
Jim Khuri ventured into commercial real estate in 2001 and has invested in apartment complexes and medical buildings in Los Angeles and New York. In 2009, he moved from New York to Los Angeles, California, where he calls home to date.
While real estate is what propelled Jim to entrepreneurial success, his primary focus has been on e-commerce. He discovered his passion for trading cards at a young age and cultivated this passion into a successful distribution business – FJ Holdings. FJ Holdings sells to over 3,000 brick and mortar stores across the country. He partners with Amazon in over 136 countries and has built a large business with Walmart online.
Jim is also a dedicated philanthropist and co-founder of a charity called beautifullminds.com, a nonprofit organization focusing on providing educational assistance to facilities and programs that help those in need of mental and spiritual support, physical education and therapy, and rehabilitation support.
When not working, Jim Khuri loves spending time with his teenage son, sampling new restaurants, and looking for new movies to watch together. Jim is also a staunch advocate of healthy living and enjoys weight lifting, hiking, boxing, and other sporting activities to stay in good shape.
Where did the idea for Khuri Enterprises come from?
At first, I aspired to be a medical professional, but halfway through my college years, I discovered that I had a deep love for entrepreneurship. Immediately after graduation, I began working for a company to learn the ropes of entrepreneurship before setting up my own businesses.
In 2001, I ventured into the real estate industry and started purchasing medical office buildings. Today, my primary focus is on apartment buildings and medical office buildings because I believe that nothing else would be worth the effort in the current market.
What does your typical day look like and how do you make it productive?
My day starts early, at about 6 am, and I spend virtually all of it on the computer. I run global businesses, so I have several computers to ensure we meet the needs of every country to which we supply our products.
I am also into real estate. So, besides keeping my eyes on the computer screen all day, I also have to keep my ears on the phone, speaking with brokers about buildings, apartments, and offices.
I understand the importance of healthy living and maintaining a healthy state of mind. So I find time to work out, revitalize, and unwind from the busy day. I also ensure that my son gets some time from my busy schedule.
Whenever I can, I go out to enjoy some food and relax. To make my day productive, I focus on the issues at hand, and there’s always so much to handle that it’s not easy to get distracted.
How do you bring ideas to life?
My ideas usually stem from my inspirations. I draw inspiration from numerous places, including the surrounding environment, past memories, and visions for the future. I take my inspirations and transform them into ideas that can positively impact people’s lives.
What’s one trend that excites you?
Increasingly more people are embracing online shopping, which means well for the future of the e-commerce industry. I am considering investing in large, refrigerated warehouses in the coming years to ensure larger e-commerce outlets and supermarkets have sufficient storage as the demand for products continues to grow exponentially. With my extensive experience in real estate and e-commerce, I consider this an excellent investment opportunity.
What is one habit of yours that makes you more productive as an entrepreneur?
I work hard and uphold consistency. My clients always know what to expect from me. I understand that no client wants to do business with an unreliable person. Consistency at work promotes efficiency, which in turn enhances productivity.
What advice would you give your younger self?
Humility is a virtue. Regardless of your level of success, someone is always waiting in line to take over and dispossess you of all your achievements.
Tell us something that’s true that almost nobody agrees with you on.
Cold showers are revitalizing, but few individuals agree with me on that.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I am always learning something new. We should realize that learning never stops, and we need to constantly feed our brains with knowledge even if we believe we know everything about a topic.
What is one strategy that has helped you grow your business?
Diversification. This is one of the most effective ways to manage risks as an entrepreneur. While I started with real estate, I have established several businesses in different industries over the years and keep on diversifying whenever I get a promising idea.
What is one failure you had as an entrepreneur, and how did you overcome it?
About a decade ago, I sunk into too much debt in a bid to grow my businesses. I worked hard to pull myself out of debt, and I was successful. If you find yourself in such an overwhelming situation, you should not panic.
Focus on creating strategies that will make positive impacts. If you develop effective strategies and implement them correctly, you will eventually get out of the frustrating situation and be on the right path to success again.
What is one business idea that you’re willing to give away to our readers?
Vertical farming. While people are already implementing this idea worldwide, there is a need to exploit it to its full potential. I feel that it is a concept that needs heavy investment to harness its full benefits. It is environmentally friendly, can work indoors, and saves thousands of acres of land.
What is the best $100 you recently spent? What and why?
The best $100 I spent recently was on a gift for my mother. She is my number one supporter, and the gift was an appreciation for her standing by me over the years.
What is one piece of software or a web service that helps you be productive?
We automate most of our tasks using various software applications to ensure we select the right products for our customers and streamline distribution efficiency and productivity.
What is the one book that you recommend our community should read and why?
I have read countless books, but I think every aspiring entrepreneur should read 12 Months to $1 Million: How to Pick a Winning Product, Build a Real Business, and Become a Seven-Figure Entrepreneur by Ryan Daniel Moran. In this book, you will learn why thinking differently is an excellent strategy for identifying business opportunities.
What is your favorite quote?
“The best way to predict the future is to create it.”
– Peter Drucker
● Find a way to transform your inspirations into ideas
● Maintaining consistency in whatever you do will boost your productivity
● Learning never stops
● Always be grateful to your supporters
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.